11 Music Sq, E 202, Nashville, TN 37203, Nashville, 37203 - 2 bed, 1 bath
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This Prime Investment Opportunity is a Turnkey Short-Term Rental Asset listed at $365,000, which aligns perfectly with its $365,000 Fair Market Value. Located in the iconic Spence Manor on Music Row, this unit features a Condition Rating of 2 and includes a Guitar-Shaped Pool. With proven profitability and established zoning eligibility, this property offers immediate operational stability for investors. It is an ideal acquisition for Buy-and-Hold Investors or Portfolio Managers seeking a high-performing, historically significant Nashville rental.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 11 Music Sq Subject 2 bd · 1 ba · 725 sqft · $503 | $365,000* List Price | 2 | 1 | 725 | $503 | - |
A 600 12th Ave S 1914 Sold 1 bd · 1 ba · 824 sqft · $455 · 0.5 mi | $375,000 | 1 | 1 | 824 | $455 | 0.5 mi |
B 600 12th Ave S 712 Sold 1 bd · 1 ba · 670 sqft · $551 · 0.5 mi | $369,000 | 1 | 1 | 670 | $551 | 0.5 mi |
C 1212 Laurel St 2010 Sold 1 bd · 1 ba · 700 sqft · $607 · 0.4 mi | $425,000 | 1 | 1 | 700 | $607 | 0.4 mi |
D 930 Commerce St 508 Sold 1 bd · 1 ba · 835 sqft · $525 · 0.7 mi | $438,000 | 1 | 1 | 835 | $525 | 0.7 mi |
E 600 12th Ave S 1714 Sold 1 bd · 1 ba · 824 sqft · $549 · 0.5 mi | $452,500 | 1 | 1 | 824 | $549 | 0.5 mi |
F 1803 Broadway 513 Sold 1 bd · 1 ba · 620 sqft · $460 · 0.2 mi | $285,000 | 1 | 1 | 620 | $460 | 0.2 mi |
G 600 12th Ave S 607 Sold 1 bd · 1 ba · 660 sqft · $485 · 0.5 mi | $319,900 | 1 | 1 | 660 | $485 | 0.5 mi |
H 11 Music Sq E 203 Active 1 bd · 1 ba · 750 sqft · $447 · 0.0 mi | $335,000 List Price | 1 | 1 | 750 | $447 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although the building was constructed in 1974, the listing explicitly states the unit is fully renovated and a turnkey opportunity. As a high-performing short-term rental, the interior finishes and systems are maintained to modern standards, meeting the criteria for a recent renovation with no immediate maintenance needed.
Situated in the heart of Music Row, this property offers unparalleled walkability to Nashville's premier destinations like Broadway, Midtown, and The Gulch, ensuring high guest demand.
With proper zoning eligibility, full renovations, and a proven track record of income and guest reviews, this unit presents a seamless, ready-to-operate investment opportunity.
The building's legacy as a former retreat for legends like Elvis and Johnny Cash, paired with the iconic guitar-shaped pool, provides a unique marketing edge that typical modern builds cannot replicate.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =871, other record lot size in square feet = 749.
The monthly HOA fee of $789 is significant for a 725-square-foot unit, which may compress net margins despite the inclusion of utilities and maintenance.
At just 725 square feet for a two-bedroom configuration with only one bathroom, the layout may feel restrictive for larger groups or guests seeking more spacious accommodations.
Welcome to Unit 202 in famous Spence Manor! This 2 bedroom condo is a true icon of country music history with an enviable location in the heart of Music Row (and the correct zoning eligibility). This property blends a prime location, rich storytelling, notable guest experience, and proven profitability within one of the area's most desirable corridors. Here, you and your guests never sacrifice location and all units are fully renovated. Originally a hotel where Elvis, Johnny Cash, Dolly, and more stayed, the guitar-shaped pool sets the scene while live music from Demonbreun drifts up and down the sidewalks. This is an authentic Nashville experience that other buildings simply cannot touch. Walkable to Broadway, Midtown, The Gulch, and Edgehill, and with parking on-site, this property presents a turnkey opportunity for investors on Day 1 with a long-standing and proven track record of guest reviews and income. This premier location offers all of the touchpoints that guests are searching for, making this unit a standout in a competitive short-term rental market. This property is in a portfolio of 6 (see MLS listing 3278140). HOA includes: Water, Electricity, Exterior Maintenance, Pool Maintenance, Grounds Maintenance, and Trash Pickup. Financials available. This is an active and very busy short-term rental! Showings will be scheduled around booking calendar.
No exterior & parking available.
Grades K-4 • 1.4 mi
Grades 5-8 • 2.3 mi
Grades 9-12 • 3.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 725 | 1,009.514 |
| Lot Size | 871 | 871 |
| Price | $365.0K | $347.6K |
| Price per sq ft | $503 | $343 |
| Built year | 1974 | 2007 |
| HOA | $789 | $334 |
| Days on market | 148 | 92 |
May 29, 2026
$365,000
Initial Listing